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New Jersey Statutes, Title: 26, HEALTH AND VITAL STATISTICS
Chapter 2H: Declaration of public policy
Section: 26:2H-90: Cash reserves, demonstration.
3. A PACE or Pre-PACE program shall, at the time of entering into the initial contract and at each renewal thereof, demonstrate cash reserves to cover expenses in the event of insolvency.
a. The cash reserves, at a minimum, shall equal the sum of:
(1) One month's total capitation revenue; and
(2) One month's average payment to subcontractors.
b. The program may demonstrate cash reserves to cover expenses of insolvency with one or more of the following: reasonable and sufficient net worth, insolvency insurance, letters of credit or parental guarantees.
This section added to the Rutgers Database: 2012-09-26 13:37:49.
Older versions of 26:2H-90 (if available):
Court decisions that cite this statute: